longyuan-power-kicks-off-ipo-of-up-to-23-billion

Longyuan Power kicks off IPO of up to $2.3 billion

The wind power company comes to market as China seeks to rapidly expand its renewable energy sources. Separately, Trony Solar kicks off a US IPO, while Kaisa gives investors the chance to buy another property stock.

China's leading provider of wind power, China Longyuan Power Group Corp, yesterday kicked off the roadshow for an initial public offering that aims to raise between HK$13.42 billion and HK$17.49 billion $1.7 billion to $2.3 billion.

This is the first time that investors will have the opportunity to invest in China's rapidly growing wind power sector at the generation level, which is expected to be a key beneficiary of the government's desire to increase the proportion of the country's electricity that comes from renewable energy sources. While China derives less than 1% of its electricity from renewable energy sources today, Beijing has set a target to increase the country's wind power generating...

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